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Firsthand Technology Value Fund Inc. (SVVC-2.36%) has submitted its annual report filing for the fiscal year ended December 31, 2024.
The filing details the company's investment strategy, focusing on technology companies, including those in the information technology and cleantech sectors. The fund's portfolio primarily consists of equity and equity-related securities of private and micro-cap public companies.
For the year ended December 31, 2024, Firsthand Technology Value Fund reported a net decrease in net assets resulting from operations of $199,692. The net asset value per share decreased to $0.15 from $0.18 at the end of the previous year.
The fund's investment income for the year was $109,836, primarily from interest on convertible and term note investments. Operating expenses totaled approximately $1,322,901, with significant components being professional fees and directors' fees.
The fund recognized net realized losses of approximately $11,686,668 from the sale of investments during the year. The net change in unrealized depreciation on investments was a decrease of $9,611,554.
As of December 31, 2024, the fund's total assets were valued at $1,795,613, with net assets of $1,060,679. The fund's liquidity and capital resources are generated primarily from sales or liquidation proceeds of its investments.
The fund's portfolio includes investments in companies such as EQX Capital, Inc., IntraOp Medical Corp., Lyncean Technologies, Inc., UCT Coatings, Inc., and Wrightspeed, Inc.
Firsthand Technology Value Fund continues to focus on investing in illiquid private technology and cleantech companies, while also considering investments in micro-cap publicly traded companies.
The fund is subject to various risks, including valuation risk and investment risk in small companies, which are detailed in the filing.
Firsthand Technology Value Fund is managed by Firsthand Capital Management, Inc., with Kevin Landis serving as the Chief Executive Officer and Chief Financial Officer.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Firsthand Technology Value Fund Inc. annual 10-K report dated March 26, 2025. To report an error, please email earnings@qz.com.